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Cabinet approves "Invest India" for promotion of foreign investment | | The Union Cabinet today approved the proposal of the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry for the formation of a company 'Invest India' under Section 25 of the companies Act, 1956, for promotion of foreign investments
during the XI Five Year Plan. The proposed company which will be a joint venture
between the Government of India, Federation of Indian Chambers of Commerce and
Industry and the State Governments will be responsible for promoting Foreign investments
into the country in a more focussed, comprehensive and structured manner. It will
assist the Government in its efforts towards projecting India as an attractive
investment destination for foreign investors and the foreign investors in identifying
and realizing investment opportunities in India. |
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